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Elon Musk retracts his statement, opposes US tariffs on Chinese electric vehicles, know details
Chinese EV: America is planning to impose a 100 percent import duty on electric vehicles imported from China. The purpose of which is to benefit America-based manufacturers.
Tesla founder Elon Musk told tech investors in Paris on Thursday that he is against US tariffs on Chinese electric vehicles (EVs). This is a reversal of his January statement, in which he warned that trade barriers were needed or else China would "kill most of the other car companies in the world."
On Thursday, Musk said he is not in favor of measures that distort the market. This month, US President Joe Biden imposed new tariffs on Chinese imports, including EVs. So that American manufacturing can get support.
The Biden administration has maintained many of the tariffs imposed by former President Donald Trump while increasing others. EV duty has been increased four times to more than 100 percent. The White House says these new measures affect $18 billion of imported Chinese goods.
